Businesses know that the retail industry is constantly changing, whether it comes from altered customer expectations or new management strategies. The rise of additional technologies also results in changes throughout the sector, and one expert believes that companies should prepare now for the retail evolution that will soon occur.

EBay CEO John Donahue recently spoke at the University of Illinois, and The News-Gazette reports that he told students that there are major changes on the horizon for retailers. These alterations will come mainly in the form of new payment technologies, as there is a shift in how consumers pay that is forecasted to take the industry by storm – mobile retail transactions.

"There will be more change in how consumers shop and pay in the next three years than in the last 20," Donahue stated, as quoted by the news source.

There are several pieces of research that support Donahue's assertions, such as report from TBR which revealed that retailers are increasing their investments in mobile solutions to accommodate customers with smartphones and tablets. Retail Info Systems states that one focus of many businesses is the adoption of mobile retail POS technologies that allow shoppers to pay with their devices.

This entry was posted by admin on Sunday, March 3rd, 2013 at 11:19 am .